Former Arizona Rep. Richard Miranda (D) pled guilty to tax evasion and federal wire fraud Wednesday. The wire fraud charges involved Miranda selling a property owned by a charity, without the charity's authorization, and transferring the money from the sale for personal use, the Arizona Republic reports.
ANCHOR: But tonight Richard Miranda's is facing serious time behind bars. Next line to us what Richard Miranda is accused of doing and what he pled guilty to today in court.
REPORTER: Up until today we did not know much about this federal case against Richard Miranda. Everything was sealed until this 3 p.m. court hearing. It is clear now that this case against Richard Miranda is the reason why after 14 years in the legislature he suddenly resigned last month. Miranda pleaded guilty today to two federal crimes: wire fraud and tax evasion. This all stems from his nonprofit organization in the west valley called Centro Adelante Campisino. He admitted to setting up a dummy bank account in the name of the organization that only he knew about, and only was authorized to use. Then, without the authority from the charity’s board of directors, Miranda sold a building owned by the charity and had money wired from the account and then had that money transferred to his own personal bank account and spent the money for his own personal gain. Miranda also admitted to claiming less money on his federal tax returns and he admitted that he did this knowingly and willingly. He would not answer questions after the hearing was over but he did make a statement.
MIRANDA: I have accepted full responsibility for my actions. I want to thank my family, friends and supporters in the community for their good wishes and their faith that stays within me next paragraph I hope that in the future I can overcome the hurt and disappointment I have caused my family, friends and community.
REPORTER: Miranda faces some very serious punishment. He could face up to 25 years in federal prison and face a $350,000 fine. Now today’s plea agreement does stipulate, agreed by both parties, that the reasonable sentence would be between 21 an 27 months in prison and face of a little more than $140,000 in fine. But the judge is not bound by this plea agreement; he is set to be sentenced and early June.
ANCHOR: Hey Donna real quick before you sign off these federal cases they occur don't just occur overnight. Any idea how long the feds are working on this case?
REPORTER: No, we ask his attorney about this. The attorney said that he has been working with the feds on this for the last three months. We know this started to occur in 2005 that they have been working with the feds the last three months. Things could have been brewing since then.